Individuals who are given hard or challenging goals perform better than those given easy goals

g Dave's Duds reported cost of goods sold of $2,000,000 this year. The inventory account increased by $200,000 during the year t

FrozenT [24]

Answer:

$2,200,000

Explanation:

The movements in the inventory account is as a result of purchases, sales and writeoffs if any. These are the events that bring about a change between the opening and closing balances.

Given;

cost of goods sold = $2,000,000

Increase in inventory = $200,000 (This is same as closing balance minus opening balance)

Ending balance = $400,000

Thus, opening balance = $400,000 - $200,000

= $200,000

Let the cost of merchandise that Dave's purchased during the year be N

$200,000 + N - $2,000,000 = $400,000

N = $400,000 + $2,000,000 - $200,000

N = $2,200,000

The cost of merchandise that Dave's purchased during the year is $2,200,000

6 0

3 years ago

Make a list of at least three items that are important to double check before submitting a loan application to underwriting. Lis

xxMikexx [17]

Answer:

Please see answers below.

Explanation:

A. Three important Items to double check before submitting a loan application to underwriting.

• Completeness of data : One has to be sure that all important details are captured hence none is left out. It means that there are no missing information on the application.

• Calculations performed accurately: This means that calculations such as borrower's income, qualifying ratios are calculated accurately and also double checked for the purpose of the loan underwriting.

• Documentations required by the loan programme. All Documentations required by the loan programme must be double checked before submitting a loan application to underwriting.

B. List at least two things you would be sure to tell a borrower in preparation for closing

• I will seek clarity in terms of the money borrower would be bringing to the closing table.

• The date,time,venue of closing are essential for the closing hence will be communicated to the borrower. Also, there are no right or wrong answers that may be asked or given by the borrower during the closing.

C. List at least three calculations that are typically used during the course of mortgage loan transaction.

• Income calculation

• Front end and back end ratio (DTI ratio)

• Monthly payment.

3 0

3 years ago

Demand for walnut fudge ice cream at the Sweet Cream Dairy averages 5.9 gallons per day. The dairy uses a continuous review (reo

RSB [31]

The optimal reorder point of Sweet Cream Dairy is 27.71 or 28 (rounded off) and Safety stock is 15. 91 or 16 gallons (rounded off)

Explanation:

the reorder point is to multiply the average daily usage rate for an inventory item by the lead time in days to replenish it.

The safety stock formula with standard deviation is more complicated but also more accurate.

Safety stock = desired service level × standard deviation of lead time × demand average

Safety stock = ( 93÷100) × 2.9 × 5.9 = 15. 91 or 16 gallons (rounded off)

$Safety stock = ( 93÷100) × 2.9 × 5.9 = 15. 91 or 16 gallons (rounded off)$

Reorder Point = (Average Daily Usage x Average Lead Time in Days) + Safety Stock

= (5.9 x 2) + 15. 91 = 11.8 + 15.91 = 27.71 or 28 (rounded off)

$= (5.9 x 2) + 15. 91 = 11.8 + 15.91 = 27.71 or 28 (rounded off)$

7 0

3 years ago

When marketers use a variety of communication disciplines-advertising, personal selling, sales promotion, public relations, dire

BARSIC [14]

Answer:

It is referred to as Integrated marketing communications

Explanation:

IMC speaks to the advancement P of the "four Ps". It envelops an assortment of correspondence disciplines publicizing, personal selling, deals advancement, advertising, direct showcasing, and web-based promoting, including web-based life in the mix to give transparency, consistency, and most extreme open effect.

IMC folds correspondences over clients and causes them to travel through the different phases of the purchasing procedure. The association combines its picture, builds up an exchange, and supports its association with customers.

3 0

3 years ago

Simon Company’s year-end balance sheets follow.

klemol [59]

Answer:

The answer is given below;

Explanation:

Days sales in inventory-2017= Average Inventory/Cost of goods sold*365

=(115,000+85,000)/2/(458,674)/365

=(100,000/458,674)*365

=80 days

Days sales inventory 2016= (85,000+56,000)/2/(385,686)*365

=(70,500/385,686)*365

=67 days

3 0

3 years ago

Individuals who are given hard or challenging goals perform better than those given easy goals - true or false